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History

Local. Innovative. Trusted.

In 1869, The Savings Bank was chartered as the Wakefield Savings Bank. In 1989, we wanted to reflect a broader, geographic footprint, so for that reason, the name was changed to The Savings Bank.

The Savings Bank is a state-chartered mutual bank, so in other words, we have no shareholders. Because of this, we consider ourselves a “community bank” in every sense. The Savings Bank is headquartered in Wakefield with 3 offices, two offices in Lynnfield, and one branch each in North Reading, Andover, and Methuen. Later, in 1981, we opened the 1st Educational Savings Branch at Wakefield High School – the first student run branch in the Nation.

Our Mission:

To be a trusted leader through the personalized delivery of innovative financial services by our committed employees is our mission. That, coupled with an unwavering loyalty towards community relationships.

At The Savings Bank, we are proud to be different. We’re your mutual savings bank here to serve you, our customers, not shareholders. In Addition, we’ve been providing local communities with friendly personal service and great banking value since 1869. In summary, we plan to be here for a long time to come.

For additional information, contact Robert J. DiBella, President or Raichelle Kallery, Executive Vice President and Senior Retail Banking Officer at 800-246-2009.